Dont be mislead that Auto Stocks & Steel stocks are Going down and they will Go down further more , this drop is essential and Important to attract New Investors , who tend to invest on longer term basis , all this drop is because Government is likely to announce 15 Year old vehicle scrape and New Automobile Laws are on the way Small investors wait for market to settle down and give proper bullish expansion before Going for Long , Till then Go short with your own theory on every sell set up
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They made a small range candle , that means they will pull back for short covering , Going long is not Good , until the Get a Good Confirmation of Reversal